Today, the Workers’ Compensation Insurance Rating Bureau of California (WCIRB) testified at a California Department of Insurance (CDI) public hearing regarding the WCIRB’s September 1, 2023 Pure Premium Rate Filing. The WCIRB submitted the filing to the CDI on April 28, 2023.
WCIRB President and CEO Bill Mudge and Executive Vice President and Deputy Chief Actuary Sean Cooper testified at the hearing along with Executive Vice President and Chief Actuary Dave Bellusci and Vice President of Actuarial Services Tony Milano. They presented the actuarial basis for the WCIRB’s proposed September 1, 2023 advisory pure premium rates.
Mr. Mudge and Mr. Cooper discussed the key components of the WCIRB’s filing, which reflected, on average, a 0.3 percent increase from the approved September 1, 2022 advisory pure premium rates.
A PDF version of the WCIRB’s presentation is available in the Filings and Plans section of the WCIRB website and at the following link:
The CDI hearing officer announced that the record will close at 5:00 PM PT on June 12, 2023.
The Insurance Commissioner is expected to issue a decision with respect to the WCIRB’s filing within 30 days of the close of the record. The WCIRB will post the decision to its website once it is issued by the Insurance Commissioner and will release a WCIRB Wire story. (Sign up to receive WCIRB Wire stories in your inbox on the Subscribe to WCIRB Email Alerts page.)